General Electric has signed an agreement with CSR, China’s largest high-speed train manufacturer, to establish a 50-50 joint venture to manufacture high-speed trains in the US using China’s technology.
"The joint venture, with an investment of US$50 million in the first stage, will be the first US manufacturer to supply high-speed rail passenger trains for the two proposed high-speed rail corridors in Florida and California," GE vice-chairman John Rice said.
Yang Hao, a railway transport professor in Beijing Jiaotong University, said the two companies are using each other’s advantages to enhance their performance.
CRIEnglish.com quoted Yang as saying, "CSR has advanced high-speed rail passenger train technology at a competitive price, attracting GE to partner with it, while GE can help CSR enter the US market."